ADX Energy (ASX: ADX) has identified a new prospect at its Parta exploration licence onshore Romania following special processing of its first phase 2D seismic acquisition.
This revealed a distinct AVO related amplitude anomalies at depths of about 1,000 metres within sandstone reservoirs which are interpreted to be most likely related to gas.
The company will acquire additional 2D seismic in order to further delineate the feature. This is also expected to further confirm and de=risk the relatively large structure with the associated AVO gas anomaly, which overlies a large structure that is interpreted as potentially oil-bearing.
Preparations for drilling of this prospect and others could start by mid-October.
The 1,221 square kilometre Parta concession contains 7 excised oil and gas fields with mean prospective resource potential of 47 million barrels of oil and 480 billion cubic feet of gas.
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